Bogota team takes steps towards floating on stock exchange

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Colombian football team Millonarios this week began the process of floating itself publicly on the stock exchange in and attempt to save itself from financial ruin.

According to a report by the Wall Street Journal, the team from Bogota has begun the Initial Public Offering (IPO) in order to attract at least 3,000 investors, the minimum required to be apply for a listing on the Colombian stock exchange, the BVC.

Investors will be able to buy shares in the club for as little as $53 (COP100,000).